Gazoo Energy (fka GAZU)

[B7$4]

"GAZU News" Feb. 25, 2010, 5:00 a.m. EST ·
Gazoo Energy Group, Inc. Launches $95 Million in California Statewide Clean Energy Financing Program
Gazoo Connor Energy Audit, Corp. to Introduce Statewide Energy Efficiency Services

http://www.marketwatch.com/story/gazoo-energy-group-inc-launches-95-million-in-california-statewide-clean-energy-financing-program-2010-02-25?reflink=MW_news_stmp

LOS ANGELES, Feb 25, 2010 (GlobeNewswire via COMTEX) -- Gazoo Energy Group /quotes/comstock/11k!gazu (GAZU 0.20, -0.01, -2.44%) www.GazooEnergyGroup.com is set to deliver energy audit services under Gazoo Connor Energy Audit, Corp. on behalf the Pacific Housing Finance Agency a California Joint Powers Authority (PHFA). PHFA has developed a Property Assessed Clean Energy (PACE) Program that would allow for residents and businesses in Member Cities to install energy efficient improvements using low-interest loans that would be repaid over time through annual property tax payments. California law (Assembly Bill 811) allows for local jurisdictions to enter into contractual assessments with property owners for such improvements. PHFA's program will eliminate the need for individual cities to pay high, upfront development costs associated with starting and managing an individual city's PACE Program.

On January 25th,2010, PHFA adopted a resolution to authorize $95 Million in Revenue Bonds to finance PACE energy efficiency loans. The loans are based solely on property ownership, no credit checks, and no down payments are required to obtain financing approval. The loans are secured by an Assessment District lien against the property whose lien priority supercedes any existing liens against the property in parity with other governmental and municipal liens. The energy and water efficiency improvements must be permanently affixed to the property. In many cases, the annual energy savings exceed the amortized annual cost of the improvements installed, creating instant savings for the property owner.

The Authority has retained Connor Energy / Gazoo Connor Energy Audit, Corp. to deliver the energy audit and Authority verification services. The PACE program goals are to offer low-interest loans to residential and commercial property owners to install energy efficient projects, such as solar panels, heating and air conditioning systems, lighting control systems, windows, and pool equipment. These loans would be paid back through voluntary contractual annual assessments between PHFA and property owners within a specified amount of time.

For more information on Gazoo Energy Group visit www.GazooEnergyGroup.com.

About the company- Gazoo Energy Group aggregates a variety of green products for mass distribution worldwide. It is engaging in acquisitions and developments of green energy companies. Gazoo Energy Group's immediate goal is to raise awareness and locate inventors with the desire and potential to make a difference in the green energy industry. Gazoo Energy Group, "Together, we can change the energy industry while simultaneously making a positive contribution to our planet." Please visit www.GazooEnergyGroup.com for more information.

Forward Looking Statement- Certain statements contained herein are "forward-looking'' statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Gazoo Energy Group, Inc.

CONTACT: Equity Groups Inc.
Investor Relations
Mark Kabbash, CEO
[phone]
www.equitygroups.com/pinksheets/gazu.html